AASOC

Auditing and Assurance Standards Oversight Council

About AASOC

The Auditing and Assurance Standards Oversight Council (AASOC) is an independent, volunteer body established in 2002 to serve the public interest by overseeing and providing input into the activities of the Auditing and Assurance Standards Board (AASB).

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Independent Review Committee on Standard Setting in Canada

The Independent Review Committee on Standard Setting in Canada conducted a review of the governance and structure for establishing Canadian accounting, auditing, and assurance standards, as well what might be needed for the future – including sustainability standards. The Committee’s review concluded with the issuance of its Final Report in March 2023.

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Upcoming meetings & events

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July 6, 2023 AASOC Meeting – July 6, 2023 TBD

AASOC meetings are open to the public. Join us to learn about Auditing and Assurance Standards Board activities and witness oversight in action. Register to observe a meeting online today!

September 28, 2023 AASOC Meeting – September 28, 2023 TBD

AASOC meetings are open to the public. Join us to learn about Auditing and Assurance Standards Board activities and witness oversight in action. Register to observe a meeting online today!

December 20, 2023 AASOC Meeting – December 20, 2023 9:00 a.m. - 5:00 p.m. ET

AASOC meetings are open to the public. Join us to learn about Auditing and Assurance Standards Board activities and witness oversight in action. Register to observe a meeting online today!

Meeting & event summaries

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February 15, 2023 AASOC Meeting Minutes – September 26, 2022

The Council met on September 26, 2022, to discuss the activities of the AASB and related matters. Read the full report for more information.

February 9, 2023 AASOC Meeting Minutes - June 27-28, 2022

The Council met on June 27-28, 2022, to discuss the activities of the AASB and related matters. Read the full report for more information.

May 5, 2022 AASOC Meeting Minutes – December 16-17, 2021

The Council met on December 16-17, 2021 to discuss the activities of the AASB and related matters. Read the full report for more information.

News

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March 30, 2023 News

Appointments, Reappointments and Retirements – AASOC

AASOC is pleased to announce new members and re-appointed members to the Council and the AASB. We also wish to thank those retiring for their dedicated service. Read the appointments page for full details.

March 1, 2023 News

Media Release – Independent review concludes, setting the stage for the future of Canadian accounting, auditing, and sustainability standard setting

The Independent Review Committee on Standard Setting in Canada issued its final recommendations report. The recommendations aim to ensure Canadian accounting and auditing – and now sustainability reporting and assurance – standard setting continues to be independent and internationally recognized. A summary feedback statement will soon be issued, outlining the feedback the committee received during its consultation process.

August 15, 2022 International Activity

AcSOC and AASOC respond to the ISSB IFRS S1 Exposure Draft, “General Sustainability-related Disclosures”

AcSOC and AASOC formulated their response to the ISSB’s “General Sustainability-related Disclosures” Exposure Draft, using feedback gathered from an extensive cross-section of Canadian stakeholders through various forums. Read our comment letter for Canada’s response to the Exposure Draft which includes feedback to issues such as: the overall approach to sustainability-related risks and opportunities disclosure, objectives and definition of sustainability-related financial information, materiality, global baseline, frequency of reporting, and more.